Super Micro Computer price target raised to $150 from $100 at Loop Capital

Loop Capital analyst Ananda Baruah raised the firm’s price target on Super Micro Computer to $150 from $100 and keeps a Buy rating on the shares. Momentum continues to build for this well-positioned Artificial Intelligence server vendor as the company has laid out a path to sustainable growth in its AI business over the next 4-6 quarters, the analyst tells investors in a research note. With AI increasingly a part of the investment story and with Cloud revenue closing in on at least 50% of revenue, investors’ increasing enthusiasm could also lead to material earnings multiple expansion as well, Loop Capital added.